Craig Hallum Issues Pessimistic Forecast for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its target price decreased by stock analysts at Craig Hallum from $20.00 to $17.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 16.76% from the stock’s current price.

A number of other equities analysts have also commented on GO. UBS Group dropped their price target on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $16.00 in a research report on Wednesday. Telsey Advisory Group downgraded shares of Grocery Outlet from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $27.00 to $19.00 in a research note on Wednesday, October 30th. Loop Capital assumed coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, Roth Mkm lowered their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.64.

Grocery Outlet Stock Performance

GO stock opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The stock has a market cap of $1.43 billion, a P/E ratio of 26.96, a P/E/G ratio of 3.57 and a beta of 0.13. The firm has a 50 day simple moving average of $16.74 and a 200 day simple moving average of $19.84. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.98.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Research analysts anticipate that Grocery Outlet will post 0.66 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock valued at $8,876,548 over the last ninety days. 4.50% of the stock is owned by insiders.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet in the 1st quarter valued at about $25,000. Blue Trust Inc. grew its position in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Grocery Outlet in the 3rd quarter valued at approximately $32,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at approximately $38,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at approximately $82,000. 99.87% of the stock is owned by institutional investors.

About Grocery Outlet

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.